Creative equipment finance for turnarounds
and special situations
Special situations, bankruptcy exits and turnarounds
don’t intimidate NXT Capital. We provide creative
equipment financing solutions up to $20 million to help
these companies preserve cash and working capital.
Count on NXT Capital for outstanding equipment
finance expertise, a full range of products and flexible,
• U.S. Companies: $500 million revenue
and above with positive EBITDA
• Transactions: Up to $20 million
• Term: 3 to 7 years
• Advance Rates: Up to 100%
• Broad equipment range
Contact Michael Gay, 925.953.1505
be eligible for bankruptcy. Even if those
benchmarks are met, a Chapter 9 filing
requires substantial prepetition work to
make a debtor-municipality eligible to
take advantage of the protections and
other potential benefits of bankruptcy.
This prepetition plan requires a
municipality to engage its creditors in
good faith negotiations, during which it
should discuss its plan of adjustment.
It is during this time prior to
bankruptcy that counsel and officials
for a municipality should make every
effort to negotiate consensual deals
with all creditor groups and take
the necessary financial measures to
remain solvent. Only if those efforts
are unsuccessful should a municipality
look to Chapter 9 for relief. J
1 See American Bankruptcy Institute
Annual and Quarterly U.S. Bankruptcy
Statistics. Available at: abiworld.org/
2 11 U.S.C. §109(c).
3 11 U.S.C. §101( 40).
4 In re Vallejo, California, 408 B.R.
280 (9th Cir. BAP 2009).
5 In re City of Stockton, California, 492
B.R. 772 (Bankr. E.D. Cal. 2013).
6 In re City of Detroit, Michigan, 504
B.R. 97 (Bankr. E.D. Mich. 2013).
7 In re City of Bridgeport, 129 B.R.
332 (Banrk. D. Conn. 1991).
Cathy L. Reece (top photo) chairs the Financial
Restructuring, Bankruptcy, and Creditors’ Rights
Group at Fennemore Craig P.C., and Anthony W.
Austin practices in the areas of bankruptcy, creditors’
rights, and restructuring with the firm. Reece
represents the successor to a hard money lender
with a $900 million loan portfolio in implementing
the plan of reorganization after representing the
investors’ committee as the plan proponent in the
bankruptcy case. She also represents municipalities,
lenders, Chapter 11 trustees, indenture trustees,
and debtors in various matters. Austin represents
financial institutions, debtors, creditors, and
trustees in all phases of complex litigation and
restructuring transactions, including in trials and
appeals. Reece can be reached at email@example.com
and Austin can be reached at firstname.lastname@example.org.